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Jan 28, 2013
01/13
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over the weekend, we had some news that japan was going to rely less on debt and more on taxes. you would think that bond yields would go down on that. but you can see here, they've really popped up.if japan start of their bond market, it's going to be a big, big problem. so, you get out of the dxj if you have the ability to short japanese government bonds, do it now. >> and tim, some of the other fundment am reasons that are going on in the population of japan, people are older, they're saving less, i mean, the savings right now is the same here in the united states. 2%. >> yeah, i think this continues. i think what's fundamentally different is that japan is actually seeking to pursue a budget deficit approach. they are effectively a trade surplus, budget surplus country. they are really pushing a weaker yen. this is leading to mass currency war talk. this is a big theme in davos, something that we've been hearing out of the emerging market countries. what is interesting now, a couple of the places like brazil and south africa, have inflation issues and they cannot weaken their
over the weekend, we had some news that japan was going to rely less on debt and more on taxes. you would think that bond yields would go down on that. but you can see here, they've really popped up.if japan start of their bond market, it's going to be a big, big problem. so, you get out of the dxj if you have the ability to short japanese government bonds, do it now. >> and tim, some of the other fundment am reasons that are going on in the population of japan, people are older, they're...
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Jan 28, 2013
01/13
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they're already working here and are paying some taxes. this will get them fully on the tax rolls. even more important than that for the future of the economy, this will give us the workers we need the the future. both high skilled workers like scientists and low skilled workers that will help grow the economy. >> i would really like to know how you overcome zen phobia. the idea that immigrants come here and steal our jobs. i mean, i always felt the fact of the matter is they're often doing the jobs the locals don't ef want to do. but how do we get over that? >> obviously people are wary of this, but when -- people do -- for example, many americans now realize that they're not raising their kids to be farm workers. many americans realize that they're not raising their kids to be home health aides. home health aid is the fastest growing job in america right now. americans realize that's not what they're raising kids to be. the fact of the matter is, most americans are in the middle of the education spectrum. we've mostly graduated from high school, but we don't have the ph.d.s, we d
they're already working here and are paying some taxes. this will get them fully on the tax rolls. even more important than that for the future of the economy, this will give us the workers we need the the future. both high skilled workers like scientists and low skilled workers that will help grow the economy. >> i would really like to know how you overcome zen phobia. the idea that immigrants come here and steal our jobs. i mean, i always felt the fact of the matter is they're often...
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Jan 24, 2013
01/13
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. >> are we going to see higher taxes after we saw higher taxes at the beginning of the year? >> no, no, you're not, and i think the president probably does know that, but we're not going to see higher taxes. i don't think anybody thinks that it's a good idea to keep pay more taxes when you don't fix the spending problem. i can't tell you how many people have come to me that said, eric, if you fix the problem, i don't mind contributing more, but we haven't even begun to fix the problem and that's the issue. on taxes, maria, i think we do have an opportunity to engage in that kind of discussion. we've got this sequestration that will hit march 1st. we have a continuing resolution that will come at the end of that month. there are all kinds of trigger points, if you will, that will facilitate more of these discussions and hopefully will lead to a much broader solution than just going about these kind of discretionary cuts. >> let me get your take on the low hanging fruit in terms of spending cuts. medicare, medicaid, social security, health care costs, the drivers of the debt. w
. >> are we going to see higher taxes after we saw higher taxes at the beginning of the year? >> no, no, you're not, and i think the president probably does know that, but we're not going to see higher taxes. i don't think anybody thinks that it's a good idea to keep pay more taxes when you don't fix the spending problem. i can't tell you how many people have come to me that said, eric, if you fix the problem, i don't mind contributing more, but we haven't even begun to fix the...
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Jan 25, 2013
01/13
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payroll taxes are nothing more than temporary tax cut was a rebate. like bush had two rebates that didn't work. obama had two rebates that didn't work. people know it's not permanent and pay down their credit cards but doesn't affect spending. got to go. hang on. when we come back you can whack at me. we got two major earnings reports out after today's close bell. we begin with microsoft, john joins us with the details. >> reporter: microsoft turned in solid results. revenue just a little bit short of expectations at 21.46 billion dollars. eps a penny better at 76 cents. microsoft says when you count deferred revenue thing are actually a little bit better than that. a couple of highlights. windows, the windows group did better than expected at 5.8 billion in revenue. the business division did a little shy at 5.7. now jane wells has a little bit on starbucks, another big company. jane? >> reporter: john, shares have been up after hours. they were up over 3% at one point. starbucks reported its best holiday ever, best earnings per share ever at 57 cents
payroll taxes are nothing more than temporary tax cut was a rebate. like bush had two rebates that didn't work. obama had two rebates that didn't work. people know it's not permanent and pay down their credit cards but doesn't affect spending. got to go. hang on. when we come back you can whack at me. we got two major earnings reports out after today's close bell. we begin with microsoft, john joins us with the details. >> reporter: microsoft turned in solid results. revenue just a little...
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Jan 22, 2013
01/13
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some basic tax planning thing. he's probably paying, let's get the number here, more on the order of around 50% to 52%, that's being very conservative. the top paid americans when you look at the irs code, the highest paid 400 earners and millionaires are paying around 20%, that's the average for most millionaire earners. between 20% and 50%, not 62% or 63%. >> what we can tell of his income, his income mostly derives from tournament wings or endorsement income. it's not investment income, which is how the wealthy people typically lower their rated. >> he's correct, he's the guy getting hit. you're talking about people who earn a lot of money in ordinary income, they are the ones getting hit. he's like a lot of rich guys, especially in california now who are saying maybe this is -- >> move to florida, right? >> he probably has a point but he still will be taking home $25 million. someone with such a great image in golf t doesn't send the right message. >> many are accusing him of being a whiner about this. >> also
some basic tax planning thing. he's probably paying, let's get the number here, more on the order of around 50% to 52%, that's being very conservative. the top paid americans when you look at the irs code, the highest paid 400 earners and millionaires are paying around 20%, that's the average for most millionaire earners. between 20% and 50%, not 62% or 63%. >> what we can tell of his income, his income mostly derives from tournament wings or endorsement income. it's not investment...
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Jan 28, 2013
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it set a more effective tax system. it reduced taxes going forward. and i think we could have had a booming environment. i may be wrong. that's my own personal belief. if we had a grand bargain, america will take off. i think it's very important for america to get strong. the rest of the world needs us to. europe still has its issues. i think it's important that america kind of took the lead here. >> what does your gut tell you about all of this money moving into stocks recently? do you think this is sustainable? >> yeah, if the economy grows, it's sustainable. you know, it's not just america, it's european, japanese and chinese companies. but you're still buying them at fairly good prices. and your alternatives aren't really that good. so, yes, i'm comfortable owning stocks right now. >> my thanks to jamie di plrksz on. >>> the state of business, the state of investors and the state of europe all part of the conversation here this week from citi ceo to a billionaire philanthropist. here's what they had to say. >> our strategy is really focused around
it set a more effective tax system. it reduced taxes going forward. and i think we could have had a booming environment. i may be wrong. that's my own personal belief. if we had a grand bargain, america will take off. i think it's very important for america to get strong. the rest of the world needs us to. europe still has its issues. i think it's important that america kind of took the lead here. >> what does your gut tell you about all of this money moving into stocks recently? do you...
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Jan 22, 2013
01/13
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. >>> phil mickelson is teed off about taxes. he is threatening to leave california thanks to a higher tax rate on the wealthy. we will talk to robert frank about this in a minute, but first, jane wells, does he have a point? >> the wonder is why he stayed so long, except san diego is a nice place. florida is nice, too. mickelson will pay california a new rate of 13.4% retroactive to the beginning of last year. running the numbers, "sports illustrated" estimates he made 60 million in 2012, that means 64 million in ju 6.4 million in california taxes, and he owes an extra 1.8 million. but if he moves, california loses everything. some of those smaller tournaments may leave the state if golfers decide to golf at rival events. tiger woods and the williams sisters long ago left california for florida, maybe not for tax purposes but they haven't moved back. lebron james went to the heat instead of the heat so the clippers could save tens of millions over his contract. and taxes were in the conversation when peyton manning was debating
. >>> phil mickelson is teed off about taxes. he is threatening to leave california thanks to a higher tax rate on the wealthy. we will talk to robert frank about this in a minute, but first, jane wells, does he have a point? >> the wonder is why he stayed so long, except san diego is a nice place. florida is nice, too. mickelson will pay california a new rate of 13.4% retroactive to the beginning of last year. running the numbers, "sports illustrated" estimates he made...
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Jan 24, 2013
01/13
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taxes. realtors tell me that sellers rushed to do the deals before january 1st to avoid the potential tax hikes on capital gains. the big surprise was that sales are even continuing through this january, and inventory is getting very thin. brokers tell me the wealthy want somewhere safe to put all this cash, and they are turning to real estate. here are a few properties that are still for sale and could still be yours in the hamptons. this estate in bridgehampton could be yours for 43 million bucks. 12 bedrooms, get this, two bowling aliz, a tennies in court, a rock climbing wall and a full disco. or for the
taxes. realtors tell me that sellers rushed to do the deals before january 1st to avoid the potential tax hikes on capital gains. the big surprise was that sales are even continuing through this january, and inventory is getting very thin. brokers tell me the wealthy want somewhere safe to put all this cash, and they are turning to real estate. here are a few properties that are still for sale and could still be yours in the hamptons. this estate in bridgehampton could be yours for 43 million...
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Jan 28, 2013
01/13
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this may be the most dangerous tax season ever. our senior correspondent scott is on the case for us. hi, scott. >> hi, sue. dangerous. irs about to start electronic filing season and we will tell you why this tax season could be your worst nightmare and what the irs is or isn't doing. ♪ [ male announcer ] this is karen and jeremiah. they don't know it yet, but they're gonna fall in love, get married, have a couple of kids, [ children laughing ] move to the country, and live a long, happy life together where they almost never fight about money. [ dog barks ] because right after they get married, they'll find some retirement people who are paid on salary, not commission. they'll get straightforward guidance and be able to focus on other things, like each other, which isn't rocket science. it's just common sense. from td ameritrade. it's just common sense. it's part of what you slove about her.essing. but your erectile dysfunction - you know, that could be a question of blood flow. cialis tadalafil for daily use helps you be ready
this may be the most dangerous tax season ever. our senior correspondent scott is on the case for us. hi, scott. >> hi, sue. dangerous. irs about to start electronic filing season and we will tell you why this tax season could be your worst nightmare and what the irs is or isn't doing. ♪ [ male announcer ] this is karen and jeremiah. they don't know it yet, but they're gonna fall in love, get married, have a couple of kids, [ children laughing ] move to the country, and live a long,...
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Jan 24, 2013
01/13
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he could stand up for all the tax oppressed people in california and it is one tax oppressing place and he could stand up for them and be a spokesman and say you guys are driving loyal people like myself out of here because you're taking so much out of my paycheck. >> if you want to broad i don't know the tax debate, california has come out and said we've balanced the budget, so why take that personalin come t income t they finally got the budget right. whether you make 50,000 or 50 million, taxes hurt. >> other people who have moved around and we talked about tiger woods, what about lebron james? he was a great basketball star in cleveland. when he went to florida to the miami heat, a lot of people in new york said to avoid new york tax rates. anything to that? >> i think obviously there's no doubt when you're signing hundred million dollar contracts having no individual income tax is a big deal but this guy is going to be a billionaire someday. he had more control over putting this team together, there was more freedom over what players could go there. i trip it's always a factor. the
he could stand up for all the tax oppressed people in california and it is one tax oppressing place and he could stand up for them and be a spokesman and say you guys are driving loyal people like myself out of here because you're taking so much out of my paycheck. >> if you want to broad i don't know the tax debate, california has come out and said we've balanced the budget, so why take that personalin come t income t they finally got the budget right. whether you make 50,000 or 50...
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Jan 29, 2013
01/13
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here is the pitch, no state taxes. better than sunshine. ♪ let's go. ♪ ♪ ♪ [ male announcer ] introducing the all-new cadillac xts... another big night on the town, eh? ...and the return of life lived large. ♪ >>> coming up on the "closing bell," coming up two stocks, apple down, research in motion is hot. which is the better stock to buy right now. we, of course, have that trade. plus, did amazon have a happy holiday? instant analysis of the online retailer's earnings. the dow inching closer to an all-time high. mark far ber is not impressed. find out why he's calling for a 20% selloff this year. they don't call him dr. doom for nothing. first "street signs." >> thanks very much, scotty, we're looking forward to it. we have breaking news here. what you're looking at is the president live in las vegas. he's going to be laying out his immigration reform plan. here on "street signs" we were talking about immigration, about 11 million illegal immigrants in the country. talking about growth if we made them legal.
here is the pitch, no state taxes. better than sunshine. ♪ let's go. ♪ ♪ ♪ [ male announcer ] introducing the all-new cadillac xts... another big night on the town, eh? ...and the return of life lived large. ♪ >>> coming up on the "closing bell," coming up two stocks, apple down, research in motion is hot. which is the better stock to buy right now. we, of course, have that trade. plus, did amazon have a happy holiday? instant analysis of the online retailer's...
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Jan 22, 2013
01/13
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frustrated about higher taxes? so is golf pro phil michelson who suggested, quote, drastic changes ahead for him because of tax pain. we're going to discuss whether rich people are really moving to avoid the tax man's blow. next. >> we have certainly stories on that. >> litter, a super conservative governor raises taxes to fund her state's responsibility for the new health care law. stick around. could happen in for states as well. at a dry cleaner, we replaced people with a machine. what? customers didn't like it. so why do banks do it? hello? hello?! if your bank doesn't let you talk to a real person 24/7, you need an ally. hello? ally bank. your money needs an ally. >>> you've probably heard by now golf phil michelson has apologized for those remarks that he said over the weekend when he said big changes would be coming in his own life due to his rising tax rate in california but didn't go so far as to say those changes were not coming with that apology. brian schactman has that story. >> well, you know, phil sa
frustrated about higher taxes? so is golf pro phil michelson who suggested, quote, drastic changes ahead for him because of tax pain. we're going to discuss whether rich people are really moving to avoid the tax man's blow. next. >> we have certainly stories on that. >> litter, a super conservative governor raises taxes to fund her state's responsibility for the new health care law. stick around. could happen in for states as well. at a dry cleaner, we replaced people with a...
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Jan 28, 2013
01/13
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the fiscal cliff was a big issue on the tax side. we've extended the debt ceiling to may. that really could be july. i don't know that they represent the risks that a lot of people thought was represented in august 2011 heading into it. we realize hindsight, yields did not spike dramatically. we didn't get a massive number of investors whether it was institutions, pension funds that were forced out of treasuries. because of that aaa rating gone. i think we learned some lessons. but i still think unfortunately washington and the ranker and the political system remains one of them. >> it sounds you're not as worried about washington. >> we're sadly becoming immune to their antics. >> we'll leave it there. good to see you. thank you so much. >>> about ten minutes to go before we close it up on monday on wall street here. dow jones industrial average still hanging in just below 13,900. >>> well, it has been the feud that continues to be the buzz on wall street. >> and in 2003 i get a call from this ackman guy. he's like the cry baby in the schoolyard. >> carl icahn does not ha
the fiscal cliff was a big issue on the tax side. we've extended the debt ceiling to may. that really could be july. i don't know that they represent the risks that a lot of people thought was represented in august 2011 heading into it. we realize hindsight, yields did not spike dramatically. we didn't get a massive number of investors whether it was institutions, pension funds that were forced out of treasuries. because of that aaa rating gone. i think we learned some lessons. but i still...
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Jan 24, 2013
01/13
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taxes came from taxes on fast-food and property taxes. so you ended up taxing the rich more, right? because the bigger your property was, the more you paid. >> a lot of people feel there will be cut backs in other areas to make up for the lack of income. or as michelle talked about, can they make it up in other areas. >> money moves to taxes that get rid of their -- states that get rid of income tax. like $150 billion over the last 15 years, according to "how many walks" moved from states that had income tax to states that didn't. the nine highest taxed states lost a hundred billion of income -- of wealth, rather. it is proven it works. it attracts wealth to your state by getting rid of income tax. >> i couldn't believe this but for the billionaire that has everything. michael dell is on order to buy a boeing 787 dreamliner. i don't know if it is him per se buying it or whether the corporation that behind him that does it. >> this is a mystery p.m. pep familiar with him say it isn't his style to have a big plane like this. it is done through international leasing. it could be that t
taxes came from taxes on fast-food and property taxes. so you ended up taxing the rich more, right? because the bigger your property was, the more you paid. >> a lot of people feel there will be cut backs in other areas to make up for the lack of income. or as michelle talked about, can they make it up in other areas. >> money moves to taxes that get rid of their -- states that get rid of income tax. like $150 billion over the last 15 years, according to "how many walks"...
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Jan 25, 2013
01/13
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in the meantime, we know taxes on our dividends aren't going up. they stayed almost the same. that's a remarkable surprise that nobody talks about. but the need to find higher after tax yields is behind the huge move in the big dividend paying drug stocks. it's why we pay more for bristol-myers as we did today or johnson & johnson which kind of hangs in there despite the earnings miss and the horrendous implication of their faulty hip product. it's why we're paying more for the oils, all the oils because more oil will be used when things get better sending the hesses and conocos higher with them. that's how schlumberger can be ten points above where it was when it pre-announced a shortfall. and, of course, any uptick in employment has huge implications for autos and for homes where for a couple of years we were building homes at a rate that came in under what we were building when we had half as many people in this country. more homes means more retailers doing business to fix those homes, and it means more businesses for the banks, the processed home loans and that group gets
in the meantime, we know taxes on our dividends aren't going up. they stayed almost the same. that's a remarkable surprise that nobody talks about. but the need to find higher after tax yields is behind the huge move in the big dividend paying drug stocks. it's why we pay more for bristol-myers as we did today or johnson & johnson which kind of hangs in there despite the earnings miss and the horrendous implication of their faulty hip product. it's why we're paying more for the oils, all...
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Jan 23, 2013
01/13
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oppenheimer says the upside largely driven by taxes and interest income. concern about nexus margins. >> okay. as we is can say, gain over 9%. coach is moving in the opposite direction and then some. disappointment here. >> tell me what you think is wrong, this is your kind of store. what's happening? >> you know, i was reading commentary and i think they were disappointed by the performance in mother america and european market. other than that, national sales are going quite well. i think the problem here is handbags. the handbag store, maybe around 300, $400 point range, but to try and retain that brand, they refuse to cut prices. and they've got a lot of competition. places like michael kors for places which are discounting, and they are not discounting because they do not want to hurt their brand. >> nobody goes there any more. too crowded. >> too crowded? >> yeah. that seems like what is happening it apple as well. by the way be analyst on squawk balk said buy coach. it is a buying opportunity. >> there you good. >> okay, let's talk about cree. >> ok
oppenheimer says the upside largely driven by taxes and interest income. concern about nexus margins. >> okay. as we is can say, gain over 9%. coach is moving in the opposite direction and then some. disappointment here. >> tell me what you think is wrong, this is your kind of store. what's happening? >> you know, i was reading commentary and i think they were disappointed by the performance in mother america and european market. other than that, national sales are going quite...
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Jan 28, 2013
01/13
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this does include taxes, and it is a hotel. but it doesn't include your mortgage. you're paying $95 million. and then what do you pay -- >> during the commercial break i guessed 17 grand a month. >> i would like to raise that -- >> 17 grand a month? >> to 55 grand a month. >> very close. 60,000 a month in monthly maintenance fees. now that does include twice -- it includes maid service and a spa and some other things. so you're paying $95 million and then you're paying $60,000 a month in maintenance. but we bring you through all kind of apartments tonight. $160 million worth of real estate in new york. >> are these places back? i mean for awhile things crashed and nobody could afford these places. are they really back? because we still talk about how on wall street those pay packages are coming back. >> that's what everyone was saying a year ago, two years ago. two things happened. one is foreign money. i mean one of the great things about this show tonight is we bring you through with a russian buyer as he's in central park west. the russians, the chinese, the lat
this does include taxes, and it is a hotel. but it doesn't include your mortgage. you're paying $95 million. and then what do you pay -- >> during the commercial break i guessed 17 grand a month. >> i would like to raise that -- >> 17 grand a month? >> to 55 grand a month. >> very close. 60,000 a month in monthly maintenance fees. now that does include twice -- it includes maid service and a spa and some other things. so you're paying $95 million and then you're...
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Jan 23, 2013
01/13
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other income, 350 million and a tax rate of 26%. >> okay. gene in. >> it's actually kivon -- the numbers are disappointing on the iphone, slightly disappointing, but if you step back the expectations were for 41 billion in the mid-point of the revenue guide and did 42 so that was better. essentially this is what people had really expected absent the small disappointment on the iphone number, but it seems pretty -- actually pretty uneventful. it's directionally more negative than what we expected. >> you got 22.9 million ipads. what did you think? >> i think that's actually a really good number. it's better than what i expected. but the thing that catches me, apple may be worse than what we expected because they just eked out the number. >> even though the eps beat was really, really big. >> dan, how do you feel about watching the stock that you own a lot of down another 23 bucks and below 500 bucks? >> i mean, it's frustrating. this number, obviously, hoping for a blowout number after those verizon iphone numbers came in in terms of the new
other income, 350 million and a tax rate of 26%. >> okay. gene in. >> it's actually kivon -- the numbers are disappointing on the iphone, slightly disappointing, but if you step back the expectations were for 41 billion in the mid-point of the revenue guide and did 42 so that was better. essentially this is what people had really expected absent the small disappointment on the iphone number, but it seems pretty -- actually pretty uneventful. it's directionally more negative than...
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Jan 25, 2013
01/13
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the estate tax which lets your charitable giving not be taxed is clearly a very positive encouragement to look at giving. i'd say that even more than the taxes, though, the fact that there's more examples of people where -- so everyone is asking themselves, you know, could i be giving you something, the fact that they hear the impact is very strong, i think the kind of social movement is even more, but the tax structure helps. >> what continuing investment is needed at this point? in other words who are the biggest stakeholders you want to reach that you haven't reached yet that haven't been as generous as they could? is this process harder as we see austerity taking place all around the world? >> well, the money that helps out the poorest overwhelmingly comes from government aid budgets and so what kind of priority that gets say in the u.s. budget process over the next four or five years i'd say is pretty unclear. will the generosity go up? will it be cut proportionately? or will it suffer a disproportionate cut, you know? unless we tell the aids story very well, you know, i'd be quit
the estate tax which lets your charitable giving not be taxed is clearly a very positive encouragement to look at giving. i'd say that even more than the taxes, though, the fact that there's more examples of people where -- so everyone is asking themselves, you know, could i be giving you something, the fact that they hear the impact is very strong, i think the kind of social movement is even more, but the tax structure helps. >> what continuing investment is needed at this point? in...
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Jan 29, 2013
01/13
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new year, and now a lot of those uncertainties have been wiped away with the budget ceiling and the tax situation that i think gives us a great deal of improvement, but as dandy don used to say when he hosted "monday night live," when it became obvious, he used to sing "turn out the lights, the party is over," and i think that's what's happening now. investors are realizing that the bond market party may be over, and it's time to shift to equities. >> let me ask you again. how are you allocating capital then in. >> we like a lot of sectors in the equity market. we like energy, materials and industrials, and some of the technology names are looking really pretty right now. >> rick, it's a perfect segue to you. he said the bond market party may be over. is it? >> well, no, i absolutely do not think so. here we are still toying with 2% as we get close to record highs in the dow jones industrial average. there's an incongruent relationship there, just like there's an incongruent relationship with the fact that we're talking about the dow near records, and tomorrow morning at 8:30 eastern i'
new year, and now a lot of those uncertainties have been wiped away with the budget ceiling and the tax situation that i think gives us a great deal of improvement, but as dandy don used to say when he hosted "monday night live," when it became obvious, he used to sing "turn out the lights, the party is over," and i think that's what's happening now. investors are realizing that the bond market party may be over, and it's time to shift to equities. >> let me ask you...
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Jan 24, 2013
01/13
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the tax rates will serve as an anti-stimulus. >> i'll talk about mobile because that's a big growth area for your business. as tablets become much, much more popular out there, what are some of the solutions that verifone offers? and how does that change, more importantly, the mix, and how does it shift the mix in your hardware business? >> well, checking out is not the only place that you pay now, you can pay throughout the store, you can pay in an aisle, you can pay at a roadstand, so our business is flourishing with a number of mobile products for clienteling, which bring the retail clerk and the consumer closer together for opportunities to order off of e-commerce websites in the store to fulfill inventory shortages that you might not have at that time. inventory management, et cetera. so retailers are looking to us for more than just a traditional verifone point of sales systems at the checkout counter, but they're looking for technology throughout the store. that's going to be a very good driver for us in 2013 and 2014. >> do the two solutions coexist or is a replacement of the poi
the tax rates will serve as an anti-stimulus. >> i'll talk about mobile because that's a big growth area for your business. as tablets become much, much more popular out there, what are some of the solutions that verifone offers? and how does that change, more importantly, the mix, and how does it shift the mix in your hardware business? >> well, checking out is not the only place that you pay now, you can pay throughout the store, you can pay in an aisle, you can pay at a...
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Jan 22, 2013
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. >> only to taxes. >> it's relevant from a standpoint of, what's your profit target? when do you think you should be out of this thing? tomorrow really shouldn't be a factor. at the end of the day, if you reached your profit target and you want to get out, great. >> i want to get the bottom line here. you are saying longer term you are concerned about apple's prospect but if you are a long-term investor, you should what? own apple or not? >> the bottom line is this, melissa. it's a great stock to own long-term. it's not a great stock to get into to start a new position in right now because all of the noise and all 0 the headlines that drives what happened in this thing. >> is it priced fairly? is there an attractive value proposition? these are the things you should be thinking about. >> absolutely. absolutely it's priced fairly i mean it's not priced fairly. if you look at amazon, we give amazon the benefit of the doubt with a 3,000 p.e. and i'm fine with that. i think they're going to execute its long-term plan really well and we don't give apple even close to the s
. >> only to taxes. >> it's relevant from a standpoint of, what's your profit target? when do you think you should be out of this thing? tomorrow really shouldn't be a factor. at the end of the day, if you reached your profit target and you want to get out, great. >> i want to get the bottom line here. you are saying longer term you are concerned about apple's prospect but if you are a long-term investor, you should what? own apple or not? >> the bottom line is this,...
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Jan 23, 2013
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is that because of this situation right now the way we're talking about taxes in america? >> the short answer is no. we feel a responsibility to return to our community and for everything that they do, and we have created a foundation, and we focus on education. we focus on helping eliminate poverty in america, and we have very structured programs where we match employee gifts, and we're proud to save. >> you don't think the shareholders were angry about that or upset with that, or your first duty isn't to the shareholder? >> the shareholders would not have received -- would have received this and would have gone into our cash flow and more generally we have very substantial cash flow. we have no doubt. we're able to invest at the levels we want. >> okay. >> we're in a situation where we are able to return to our communities across america. >> i should have probably asked this first, but i'm going ask you as you let it go here. you're down 15 plus%. what do you make of that and say to the share holders who have been fleeing today? >> would i say it's a moment in time and s
is that because of this situation right now the way we're talking about taxes in america? >> the short answer is no. we feel a responsibility to return to our community and for everything that they do, and we have created a foundation, and we focus on education. we focus on helping eliminate poverty in america, and we have very structured programs where we match employee gifts, and we're proud to save. >> you don't think the shareholders were angry about that or upset with that, or...
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Jan 28, 2013
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we will see a huge increase in gdp and after tax income in the fourth quarter mainly december, at least 100, 120 billion of extra income from 2013 recognized in december to beat the higher tax brackets, capital gains increase. so, in other words, the economy now feels like 20% increase in take home pay has been given to the economy. it feels good. the problem with that, that income was going to be recognized this year, no longer here to be recognized. we're seeing a slowdown in income as we come forward. the best theater on tv to me wasn't to social inept types, but the fact that some of your -- the guests this morning, from companies were being like, do you see an increase in the economy? are things growing or things better? they're selling stock in aggregate, not buying stock anymore. to me, that means companies do not see what's going on as an improved economy. one more point if i can. >> yes. real quick. >> i'm sorry. >> go on. >> real estate. interest rates up on 10 years, refi of stock. the real estate market was a big add to qe-1 last year and a negative to qe-1 this year. >> chu
we will see a huge increase in gdp and after tax income in the fourth quarter mainly december, at least 100, 120 billion of extra income from 2013 recognized in december to beat the higher tax brackets, capital gains increase. so, in other words, the economy now feels like 20% increase in take home pay has been given to the economy. it feels good. the problem with that, that income was going to be recognized this year, no longer here to be recognized. we're seeing a slowdown in income as we...
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Jan 25, 2013
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it's not till november that the tax laws allow that to be. i do believe it's going to blow a quarter. i think mtw should split itself up into two separate companies. food, service, and cranes. remember those ice machines when you go out to -- ice machines, you feel like you're getting something for free. it's really water. we also get results from beemus. its tom symbol is bms, which stands for buy my stock. here's the stock i mentioned earlier this week as part of the brand new bull market in packaging of all things. you're going to sey 15id that. i'm expecting a very good quarter after the close. we get the new one, the ipo, barry plastics. the other packaging bull market player. i think there's a lot to like here too. on the lookout for both of these. if buy my stock goes down ahead of when it reports, buy its stock. all right. now, on friday morning i think you're going to see the contrast between the world's largest oil company, exxon, which has truly become a serial disappointer, and chevron, which has become a company that delivers som
it's not till november that the tax laws allow that to be. i do believe it's going to blow a quarter. i think mtw should split itself up into two separate companies. food, service, and cranes. remember those ice machines when you go out to -- ice machines, you feel like you're getting something for free. it's really water. we also get results from beemus. its tom symbol is bms, which stands for buy my stock. here's the stock i mentioned earlier this week as part of the brand new bull market in...
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Jan 22, 2013
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phil mickelson now apologizing, backing off the controversial comments on high income taxes in the state of california. but does the golf titan have his math right? we'll look at mr. mickelson. >> thanks so much. >>> not so fast, josh, the traders are quick. but not always right. listen to what josh brown said about netflix back in october. >> i'm a hater. look, all of the people that are being very bullish about the stock in the past week, hedge fund managers, they're buried this this thing. why would you own shares of a company with an unproven business model, big expenditures overseas? >> well, shares are up 56% since then. are you still drinking the hatorade? >> i have been wrong, but everything i have said as reasons not to like it is still around. the company reports tomorrow. this is not a report that i'd want to be involved in the stock ahead of. quite frankly, they have got to add 5 million net new subs. they have a history of being hot and cold on the reports. guidance is out of control as far as what people are looking for, as far as the downside and upside. for me i'm not int
phil mickelson now apologizing, backing off the controversial comments on high income taxes in the state of california. but does the golf titan have his math right? we'll look at mr. mickelson. >> thanks so much. >>> not so fast, josh, the traders are quick. but not always right. listen to what josh brown said about netflix back in october. >> i'm a hater. look, all of the people that are being very bullish about the stock in the past week, hedge fund managers, they're...
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Jan 22, 2013
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federal income tax rate, new rate 39.6%. california income tax, proposition 30, just raised it to 13.3%. that gets you to 52.9% with those two numbers alone. medicare/medica medicare/medicaid, another 2%. health care, 9%. self-employment taxes, 15.3%, but only on income over $113,000. so it's really 2.9% for him there. local taxes where he wins his tournaments, maybe another 1% to be con receiver tiff. what does all that add up to? basically it's around 59% to 60%. and that is without any basic planning. even if phil used turbo tax, he could get that number way down. let's take a look. if he deducted his california state taxes from federal, that's pretty standard. he reduces it. he could deduct his golf expenses. those i guess would be substantial. basic retirement planning, 401(k), i.r.a., probably does that. if he earns any income from investments, those, of course, are taxed at 20% to 20.8%. if he has a mortgage, if he deducts his child care expenses, et cetera. so very basic tax planning, where does that get us? well, it
federal income tax rate, new rate 39.6%. california income tax, proposition 30, just raised it to 13.3%. that gets you to 52.9% with those two numbers alone. medicare/medica medicare/medicaid, another 2%. health care, 9%. self-employment taxes, 15.3%, but only on income over $113,000. so it's really 2.9% for him there. local taxes where he wins his tournaments, maybe another 1% to be con receiver tiff. what does all that add up to? basically it's around 59% to 60%. and that is without any basic...
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Jan 24, 2013
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so we're assuming that the tax laws are not going to change. we're basically going to put our money to work in places like canada, the uk, israel, russia and asia where they're going to get a return and where we want it. >> that is a change and that starts spreading out, does that mean the rate of pick up in dividend payments and shares -- >> no, we committed to our shareholders 50% of our cash flow we will pay back on them, either in the form of dividends or share buybacks. but i think the key things to take away from davos is we're becoming the innovative leader and many of the concepts appear to be paying out very well for us. >> so what makes more sense for you right now, dividends, increase or a buyback? >> we're going to poll our shareholders. we've committed to giving you 50% back. >> thank you for join onning the program. >> we so appreciate it. >> thank you. now, look, we were going to talk about this but while we've got maria here, derek jeter, right? >> yes. he came to see me at dinner last night. i was talking about when i threw the
so we're assuming that the tax laws are not going to change. we're basically going to put our money to work in places like canada, the uk, israel, russia and asia where they're going to get a return and where we want it. >> that is a change and that starts spreading out, does that mean the rate of pick up in dividend payments and shares -- >> no, we committed to our shareholders 50% of our cash flow we will pay back on them, either in the form of dividends or share buybacks. but i...
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Jan 22, 2013
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california and state tax hikes. the four-time major winner says he may move out of california or even retire. mickelson says if you add up everything, his tax rate is about 62%. he flirted with becoming part-owner of the san diego padres baseball team but backed out and now says taxes had something to do with it. so it seems we have our own version of girard dipardou. >>> one of the big points about yesterday's presidential inauguration was what michelle obama would wear. earlier monday, as you can see there, michelle obama wore a navy coat and dress by tom brown and belt and gloves by j. crew. that's another long time favorite. the first lady has established herself as an international style trend setter and the clothes she has worn have sold out at retailers. j. crew is private now, but who knows, maybe there will be investor demand soon. u.s. "squawk box" is up next.
california and state tax hikes. the four-time major winner says he may move out of california or even retire. mickelson says if you add up everything, his tax rate is about 62%. he flirted with becoming part-owner of the san diego padres baseball team but backed out and now says taxes had something to do with it. so it seems we have our own version of girard dipardou. >>> one of the big points about yesterday's presidential inauguration was what michelle obama would wear. earlier...
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Jan 24, 2013
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avoidance, sort of global tax avoidance issue? >> no, i did not. i'll stay quiet on that one. >> the other big topic here, energy. >> yes. >> and in particular, the u.s. energy situation, shale, fracking, et cetera, you bullish, you bearish, where do you think we really are? i mean people have prognosticated for now awhile that we were going to get there but doesn't seem like we're there. >> andrew, i think it is the bull case for the world. so to answer your question, i'm billish. and i think it's a game changer. and i think it is probably the story of global economic recovery if handled right. and frankly, the beneficiaries of that will be the u.s. consumer. u.s. jobs. i mean just in the downstream value added industries which i'm a part of $96 billion of investment already announced. 5 million new jobs over the next five years. huge value adder to a low-cost energy base. >> i don't know if you saw the president's inauguration speech. >> i caught part of it. >> do you feel that this administration, and forget about the administr
avoidance, sort of global tax avoidance issue? >> no, i did not. i'll stay quiet on that one. >> the other big topic here, energy. >> yes. >> and in particular, the u.s. energy situation, shale, fracking, et cetera, you bullish, you bearish, where do you think we really are? i mean people have prognosticated for now awhile that we were going to get there but doesn't seem like we're there. >> andrew, i think it is the bull case for the world. so to answer your...
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Jan 24, 2013
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obviously, a lot of investors still reeling from all the debate over a dividend tax, carried interest tax to what degree do you think those are going to be on the table as we try to work out some larger bargain? >> difficult to itemize or list what will be on the table. i will say, this the finance committee has worked for many months now to try to come to a consens consensus, early efforts just in this month, chairman baucus, talking to him yesterday, about this, reporting on where they are. so, i think there's a real sense of urgency now to get a consensus on tax reform, to have a simpler and fairer systems to deal with areas were there's consensus. believe it or not, despite all the fighting in washington, there's a great consensus that we need tax reform and i think there's a growing consensus about even the elements to it. >> well, tax reform, the question is the tax tape, do you thank you obama is shifting the debate now, that there is going to be far more taken in greater taxes for the wealthy and far less in spending cuts because that is the cret rick? >> difficult to predict.
obviously, a lot of investors still reeling from all the debate over a dividend tax, carried interest tax to what degree do you think those are going to be on the table as we try to work out some larger bargain? >> difficult to itemize or list what will be on the table. i will say, this the finance committee has worked for many months now to try to come to a consens consensus, early efforts just in this month, chairman baucus, talking to him yesterday, about this, reporting on where they...
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Jan 29, 2013
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one other thing, the tax rate was interesting on this. it looked a little higher than what they paid in the past. i think they paid 25%, 30% in the past. it was close to 45%, so, maybe on the call we'll get clarity on that. >> if amazon is doing better on the margins here, their cost of sales have gone up. but jeff has been investing in these fulfillment centers. their global story. people assume they are going to get their top line growth. if they are doing better on the margin, they are investing in their infrastructure. they will take the next global in the global retail earl that's in the traditional format. this is why you reward amazon, though i don't reward them from a stock purchase, because i don't chase stocks like this. this stock has boomed because it was down 8.5% going into the numbers. >> is this a hedge fund favorite, anthony? >> i think so. i think it's a retail favorite because jeff is now the cult of steve jobs. he's the risk taker, he's the innovat innovator, the great p.r. person. two articles, literally, in the same
one other thing, the tax rate was interesting on this. it looked a little higher than what they paid in the past. i think they paid 25%, 30% in the past. it was close to 45%, so, maybe on the call we'll get clarity on that. >> if amazon is doing better on the margins here, their cost of sales have gone up. but jeff has been investing in these fulfillment centers. their global story. people assume they are going to get their top line growth. if they are doing better on the margin, they are...
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Jan 23, 2013
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other hand, if you look at the election and fact that a majority of the american public want to see taxes raised on the wealthy and indeed that has happened, you wonder whether or not the attorneys don't have a point. >> you know, it is a novel argument. there is precedent in a legal system for sp kind of prejudice against the defendant and what they are arguing here is that this prejudice wasn't race based or any other gender base. what we usually hear, it is class based. if you look at the media coverage leading up to and during the trial there was a lot of focus on his wealth and jurors were aware of that. they may have an arg a upt here, but it'll be a tough one to prove. >> yes, indeed it will. i know you will follow it for us. thanks, robert. >>> we want to let you know that white house is weighing in on the fact that white house just voted and it welcomes the passage of the debt ceiling suspension but repeats its feeling that it would like to see a long-term extension of the debt ceiling. >>> well, if you have an idea and you would like some big money behind it, don't move. we will
other hand, if you look at the election and fact that a majority of the american public want to see taxes raised on the wealthy and indeed that has happened, you wonder whether or not the attorneys don't have a point. >> you know, it is a novel argument. there is precedent in a legal system for sp kind of prejudice against the defendant and what they are arguing here is that this prejudice wasn't race based or any other gender base. what we usually hear, it is class based. if you look at...
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Jan 24, 2013
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other thing, you know, from a corporate perspective, we'd love to see something done on the corporate tax rate here in the u.s. love to keep more jobs here. just got to find a way to solve that problem. >> how does obama care and the health reform affect you as a company? >> well, certainly it provides re people will be covered by prescriptions. that's great news for the entire pharmaceutical space. for our particular company, we don't focus so much on continuous care medicines. we generally focus on women's health, those kind of issues so for us not as great but for other pharmaceutical companies great opportunity. >> we'll let you go. they will be anxious to get you up to the balcony so you can ring the closing bell. your logo is green. why didn't you wear green? >> i wore green for him. >> you're australian? >> yeah, i'm starting to forget it. >> no idea. >> we're about to enjoy the close with 20 minute to go here, and the market is continuing to levitate a bit. >> absolutely. still marching closer and closer to a all-time high. really driving this rally? is it fundamentals or just the
other thing, you know, from a corporate perspective, we'd love to see something done on the corporate tax rate here in the u.s. love to keep more jobs here. just got to find a way to solve that problem. >> how does obama care and the health reform affect you as a company? >> well, certainly it provides re people will be covered by prescriptions. that's great news for the entire pharmaceutical space. for our particular company, we don't focus so much on continuous care medicines. we...
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Jan 23, 2013
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. >> who's going to pay the dividends and interest and taxes to sustain an aging population if young kids are not trained in productive jobs? >> a huge issue. joe kernen's got a question. >> hi, joe. >> bob, what's going on? good to see you. we've got -- wow, you're getting kind of uppity. we've got to go all the way to switzerland to get you to come on the show now. >> it's always a pleasure to come on your show. >> a good friend, jack welch, i listen to what he says as basically gospel. but not everyone does. he tweeted recently about the inaugural speech and said no mention of economic growth or things to spur economic growth. no mention really of jobs and the unemployment rate. as the under secretary of the treasury for growth, when do you actually kick in to action? you can probably coast because we probably won't see any for a while with the latest policy. but do you get called into action when there is the prospect for some growth, or when do you actually start working on that? >> well, i think there's going to be growth. i think, in fact, growth's beginning to pick up in the
. >> who's going to pay the dividends and interest and taxes to sustain an aging population if young kids are not trained in productive jobs? >> a huge issue. joe kernen's got a question. >> hi, joe. >> bob, what's going on? good to see you. we've got -- wow, you're getting kind of uppity. we've got to go all the way to switzerland to get you to come on the show now. >> it's always a pleasure to come on your show. >> a good friend, jack welch, i listen to...
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Jan 29, 2013
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and don't do it just with higher taxes. that's just one of the results of the exclusive cnbc fed survey. i knew some of this -- so that's what you were talking about, steve. >> yesterday, yeah. >> we were looking for maybe the most -- the one that really jumps out and that is the number of people that say, you know, we do have a spending problem. >> you know, joe, it's the first day of a two-day fed meeting. that means it's time for the fed survey and almost always we start our lead hit is about what the market thinks we're going to do with the fed. but this time, as you said, the results jumped out so starkly, so amazingly that we want to just give you those results of the deficit and spending questions that we asked. so let's take a look at the three questions on spending that we did here. and you can see, as joe said, the message to washington, from wall street to washington is solve the deficit now. we asked, do you think we should solve the deficit problem, not at all? do we have a couple years to do so or should we do
and don't do it just with higher taxes. that's just one of the results of the exclusive cnbc fed survey. i knew some of this -- so that's what you were talking about, steve. >> yesterday, yeah. >> we were looking for maybe the most -- the one that really jumps out and that is the number of people that say, you know, we do have a spending problem. >> you know, joe, it's the first day of a two-day fed meeting. that means it's time for the fed survey and almost always we start...
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Jan 23, 2013
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with any financial transactions to tax. but he did it in a way that really isn't threatening, at least not yet. so another piece of news that's key, spain's central bank says the country's recession got even worse in the fourth quarter contracting 1.7%. this is spain's second recession. it's economy contracted from 2008 to 2009. a terrible recession. we covered it a little bit for a couple years, now suffering through the double dip. you can see the ibex moved barely today. the country of portugal borrowed money today. it's the first time it's been able to do so since it's financial rescue in 2011. report indicate investors were willing to lend them 10 billion euros. they were able to lower the interest rate. they may less than 5% for the$. their five-year paper. here is the ten-year yield. the ceo of i kia giving an interview, saying what some years ago took two to three years now takes four to six years. we also see there's a lot of hidden obstacles in different markets and also within the european union that's holding us
with any financial transactions to tax. but he did it in a way that really isn't threatening, at least not yet. so another piece of news that's key, spain's central bank says the country's recession got even worse in the fourth quarter contracting 1.7%. this is spain's second recession. it's economy contracted from 2008 to 2009. a terrible recession. we covered it a little bit for a couple years, now suffering through the double dip. you can see the ibex moved barely today. the country of...
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Jan 25, 2013
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if they wanted to bring it back, they have to pay an additional 20% tax right now. unless the tax laws are changed through repatriation, i think that cash is just going to sit there offshore. >> or do another skype deal where they use that cash? >> you could use it, particularly for offshore acquisitions. but for the most part i think it's not able to benefit shareholders. it's just sitting there offshore in mostly government bonds offshore. they could bring it back. i think what would be most likely would be a much more aggressive share repurchase. they won't do a one-time dividend like they did years ago. >> your sneaky long is up 1.5%, rick. thanks for stopping by. >> thank you. >> rick sherlund. >>> what do family ties and initial public offering have in common? we'll find out when the ceo of bright horizons joins us next. say farewell to secretary geithner. we'll talk about his legacy and the challenges for his successor, jack lew. ♪ [ male announcer ] don't just reject convention. drown it out. introducing the all-new 2013 lexus ls f sport. an entirely new p
if they wanted to bring it back, they have to pay an additional 20% tax right now. unless the tax laws are changed through repatriation, i think that cash is just going to sit there offshore. >> or do another skype deal where they use that cash? >> you could use it, particularly for offshore acquisitions. but for the most part i think it's not able to benefit shareholders. it's just sitting there offshore in mostly government bonds offshore. they could bring it back. i think what...
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Jan 29, 2013
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they didn't mind paying the taxes. they are buying back stock. what a good call. >> all true. it's an interesting point you make, one that we perhaps don't focus enough on, in creating enthusiasm amongst your own employee base in order to attract talent, in order to keep talent. she seems to be having success at doing that. >> she has charisma. >> it is about free cafeteria food and issuing iphones to employees. >> it's important when it's a turn-around story and there has to be one or two more quarters for the results to be seen. that's a great point you made, because these are needed expectations, the fact that they beat, and they show the business lines weren't doing much worse. but revenues were better than consensus. it was a stability quarter. they bought back a lot of stock, because it's extremely investment friendly. >> a number of directors on the board will be focused on that. dan loeb is still in there. probably will be for some time. and has done very well with it. that helps also. he was key in terms of at least the appointment of mayer to the job. >> but look, th
they didn't mind paying the taxes. they are buying back stock. what a good call. >> all true. it's an interesting point you make, one that we perhaps don't focus enough on, in creating enthusiasm amongst your own employee base in order to attract talent, in order to keep talent. she seems to be having success at doing that. >> she has charisma. >> it is about free cafeteria food and issuing iphones to employees. >> it's important when it's a turn-around story and there...